Hero MotoCorp announces a price revision for its range of MY21 motorcycles and scooters
2020 saw an unprecedentedly difficult fiscal year due to the national lockdown of the Covid-19 pandemic. At the end of the year, the car manufacturers had important findings. Most saw a surge in retail sales for the recently closed holiday season.
The two-wheeler industry has developed well over the past few weeks. Of these, Hero MotoCorp remains the industry giant with a lead that is not threatened. And despite difficult circumstances, everything came together for Hero MotoCorp. In October, the company reported retail sales of over 8 lakh units.
As 2021 approaches, all automakers can be expected to announce a series of price revisions for all product portfolios. Hero MotoCorp attributes this to a steady increase in raw material costs across the spectrum, including steel, aluminum, plastics and precious metals.
New prices from 01/01/2021
The manufacturer has accelerated its austerity program under the umbrella of Leap-2 and is further mitigating the effects. This serves to relieve the customers and protect the company’s margins. To partially offset the impact of raw material costs, Hero MotoCorp will increase the product price by up to Rs 1,500 effective January 1, 2021.
The price increase varies by model including the best sellers like Splendor, Passion, Deluxe, Glamor, Destini, Pleasure, Maestro and even the premium range like Xpulse, Xtreme. ‘Final price revisions will be notified the dealers in due course,Hero MotoCorp said in a regulatory filing.
Such a planned price increase takes place annually. Depending on the variables, price increases are announced in the course of the year. In most cases for individual product lines. The price increase at the beginning of the year takes into account new vehicles of the model year. Given the situation, one can always opt for a bargain hunt December offers.
With dealers closely monitoring existing inventory, it is in everyone’s best interests to sell all current MY vehicles. Manufacturers often curate special offers based on availability. Making price points more attractive than ever before is enough to get noticed. So keep the sales momentum going.
Hero MotoCorp 2020 December Deals
Hero MotoCorp is currently Offer cash benefit of Rs 4,000 on exchanges when purchasing the Xtreme 200S, Xtreme 160R and Xpulse 200 over a 14 day period. Destini 125, Maestro 125, Maestro 110 Passion Pro and Super Splendor are offered with an exchange and loyalty bonus of Rs 2,100, while Hero Glamor comes with a discount of Rs 2,100.
It’s safe to say that deals aren’t limiting. Customers might be spoiled for choice. Especially since discount offers are available from several manufacturers. After increased sales activity during the Christmas season each year due to a significant number of planned purchases, December sales could always seem poor. The savings are always the quantum of the year-end discounts and offer attractive enough to bring customers back to showrooms.
This works well to ensure a strong year end and cumulative fourth quarter sales. An inevitable price spike in 2021 is sometimes a good reason to buy this vehicle before the new year. The turnover has increased further in the last few months due to the flexibility in the financial plans. This includes EMI plans from the debit card bank for two-wheeler purchases.